Quincy, Massachusetts is planning to clear out 50 acres of its city center and build $1.3 billion in retail shops, offices, parking garages and more, plus $300m in new infrastructure. A new financial model is making it possible.
Tod Newcombe at Governing explains how it works:
"What's unusual about the project is that the developer will assume almost all of the financial risk. Only when the infrastructure is finished will Quincy step in and assume responsibility for the debt by issuing general obligation bonds. With those bonds as a guarantee, the developer, Street-Works Development, expects to tap private equity and debt markets to build the offices, shops, apartments and parking garages."
FULL STORY: Quincy, Mass., Rebuilds from Scratch
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
